Are you looking for a reliable self-directed IRA custodian for alternative assets investing? Midland Trust Company is one of the many companies that offer self-directed IRA services, but are they actually legit? Read our Midland Trust Company review to find out if you should invest with them.
Table of Contents
- 1 What Is Midland Trust Company?
- 2 Company Info
- 3 Location:
- 4 Address:
- 5 Year Founded:
- 6 Managers:
- 7 Website:
- 8 Rating:
- 9 Midland Trust Company Products & Services
- 10 How It Works
- 11 Opening an Account
- 12 Funding Your Account
- 13 Investing
- 14 Pros of Midland Trust Company
- 15 Cutting-Edge Technology
- 16 Professional Customer Service
- 17 Free Educational Resources
- 18 Multiple Investment Options
- 19 They Have Been In Business for a Long Time
- 20 Cons of Midland Trust Company
- 21 Lacks Reviews
- 22 Accreditation, Customer Reviews & Ratings
- 23 Should You Invest With Midland Trust Company?
- 24 Is Midland Trust Company Legit or Scam?
- 25 Conclusion
What Is Midland Trust Company?
Also known as Midland IRA, Inc., Midland Trust Company is self-directed IRA custodian founded in 2003, with the motive of creating unparalleled alternative assets investing services to clients nationwide. The company has invested in state-of-the art technology so as to provide you with 24/7 account access, as well as responsive customer service. Midland Trust Company is based in Sioux Falls, South Dakota.
Sioux Falls, South Dakota
330 N Main Ave #203, Sioux Falls, SD 57104, United States
David A. Owens (owner)
[usr 1.2] Not Recommended
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Midland Trust Company Products & Services
Midland Trust Company offers you a great opportunity to diversify your investment portfolio with various alternative assets through a self-directed IRA. SDIRA account types offered by the firm include SIMPLE IRAs, Roth IRAs, SEP, Traditional IRA, Individual 401 (k), Health Savings Plans (HSAs) and Education IRA (ESA). With their IRA accounts, you can invest in a diverse range of assets including Real Estate, Forex, Hedge Funds, Futures, Equities, Precious Metals and much more.
How It Works
The process of opening a self-directed IRA account with Midland Trust Company involves 3 easy steps as outlined below.
Opening an Account
You are required to first decide on the type of account you would like to open. Once you’ve decided, you can proceed to open the account by filling out an online application form. However, for ESA, HAS and 401k accounts, you need to call Midland Trust Company to have them set up the accounts for you.
Funding Your Account
The second step requires you fund your newly created account. Funding options include IRA rollover, transfer or contribution.
The third and final step involves making the actual investment. You can choose from the various alternative assets accepted by the company.
Pros of Midland Trust Company
Midland Trust Company has invested in cutting-edge technology to offer you exceptional services. For instance, they have an amazing client portal that allows you to make payments, upload documents and more.
Professional Customer Service
MTC aims to offer the most responsive service in the industry, hence they have a dedicated team of professional service representatives to assist you.
Free Educational Resources
Midland Trust Company provides free educational resources to help you with accounts opening and investments. They include a blog, RMD calculator, webinars and a self-directed IRA guide.
Multiple Investment Options
With Midland Trust Company’s various self-directed IRA accounts, you can never run out of investment options. You can choose from multiple investment options including real estate, gold and silver, Hedge Funds, Forex etc.
They Have Been In Business for a Long Time
MTC has been in business for over 20 years, managing over $3 billion worth of assets over time. Thus, they have stood the test of time and gained massive trust.
Cons of Midland Trust Company
Notwithstanding the above pros, Midland Trust Company lacks reviews in almost all third party review platforms, which is a huge drawback. Apart from reviews on their own website, the company lacks reviews on major platforms including the BBB and Trustlink.
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Accreditation, Customer Reviews & Ratings
Midland Trust Company has an A+ rating on the BBB, but lacks customer reviews or complaints on the platform. The firm also lacks reviews and ratings on other trust sites including Trustlink, Business Consumer Alliance, Trustpilot and Yelp.
Should You Invest With Midland Trust Company?
Despite their long history and multiple IRA account options, Midland Trust Company lacks reviews on third party review websites. Normally we recommend companies that have the highest ratings on platforms such as Trustlink, BBB, BCA and Trustpilot. You can check out our top-rated gold and silver IRA custodian via the link below.
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Is Midland Trust Company Legit or Scam?
Midland Trust Company has been in business for over two decades, managing more than $3 billion of client assets in the process. Therefore, Midland Trust Company is definitely a legit self-directed IRA custodian and not a scam.
Midland Trust Company is a self-directed IRA administrator based in Sioux Falls, SD. The firm was established in 2003 and have managed to offer exceptional services since then. With their multiple self-directed IRA options, Midland Trust Company offers you an investment opportunity like no other.
But the company is not without blemish, as they have a few disadvantages as well. For example, they lack reviews on most third party review websites including Trustpilot, Trustlink, BCA, Yelp and the BBB.